Citadele ’ s first area of innovation came in the development of a new credit scoring system . “ At the time , we felt this was going to be the backbone of our transformation as we had very little loans on our balance sheet ,” Mironovs recalls . “ Then , that future soon shifted to embracing mobile banking .
“ While others were still experimenting with internet banking , we decided to build our own native mobile solution , which turned out to be a great technological bet for us .
“ That ’ s because today 96 % of our customers deal with us digitally – a higher proportion of digital customers than most big banks across Europe .”
Building a digital-first omnichannel banking experience With the majority of Citadele ’ s mobile-first users , Citadele and Mironovs soon realised how important it was to embed digital banking into its DNA .
It was not just about building new payment rails that the advent of PSD2 enabled Citadele with – because Mironovs saw this as an opportunity to take the bank ’ s customer experience to a new level .
“ When PSD2 came and we knew mobile was the way forward , we then built Klix , our local equivalent of PayPal or Klarna . PSD2 also allowed us to build acquiring services that could compete with most players in the region .”
180 June 2024